Vietnam to Export 780,000 Tons of Rubber in 2007

Vietnam is likely to ship around 780,000 tons of rubber abroad, worth US$1.4 billion in 2007, the Vietnam Rubber Association or VRA said.

 

The figure is some 30,000 tons higher than the initially set target of 750,000 tons, and 83,000 tons higher than last year’s total shipment volume.

 

Under 2007’s export plan, Vietnamese rubber producing and exporting enterprises will increase exports to the European market, while reducing exports to China, traditionally their biggest consumer. 

 

“The diversification of export markets will help local enterprises lower risk,” VRA said.

 

Along with expanding markets, Vietnam’s rubber industry will focus on developing processed rubber products to attract higher demand in the domestic and international markets, such as tires, rubber conveyors, rubber cushions, equipment and sub-materials for medical, textile and footwear.

 

Vietnam exported 148,000 tons of rubber worth US$250 million in the first quarter this year, down 9.4 per cent in volume and 7.0 per cent in value compared to the same period 2006.

 

VRA forecast export prices of Vietnamese rubber may drop to US$1,750-2,000 a ton in the coming months, with low Asian market prices. (www.vinanet.vn))